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2023-12-31-accounts

The Parochial Church Council of the Ecclesiastical Parish of St Mary the Virgin, Lapworth (St Mary's PCC)

Report and Financial Statements

31 December 2023

Charity number: 1165322

St Mary's PCC Report and Financial Statements Contents

Page
Legal and administrative information 1 - 2
Annual report 3 - 10
Report of the Independent Examiner 11
Statement of Financial Activities 12
Balance sheet 13
Cash flow statement 14
Notes forming part of the financial statements 15 - 21
Additional information 22 - 24
(does not form part of the financial statements)

St Mary's PCC Legal and administrative information

Rector Revd P H Gerard MSc BA The Rectory
Church Lane
Lapworth
(Tel: 01564 782098) B94 5NX
Churchwardens Mrs E M Kenny 8 Heyford Grove
Solihull
West Midlands
(Tel: 0121 704 3784) B91 3XX
Mr M E T Parkes The Crofts
Netherwood Lane
Chadwick End
(Tel: 01564 783189) B93 0BD
Secretary Mrs K Baines GradDipPhys MCSP 18 Kingswood Close
Lapworth
(Tel: 01564 782697) B94 6JQ
Treasurer Mr A I Jackson 175 Station Lane
BEng MBA CEng FSOE FIPlantE Lapworth
(Tel: 01564 783028) B94 6JG
Electoral Roll Officer & Mrs N Aslin Tapster Way
Envelope Scheme Church Lane
Secretary (Tel: 01564 783107) Lapworth
B94 5NX
Verger/Sexton Mrs M Twelftree The Clerks House
Church Lane
Lapworth
(Tel: 01564 784465) B94 5NX
Parish Safeguarding Mrs D A C Hill BEd, NPQH, BA 168 Station Lane
Co-ordinator Lapworth
(Tel: 01564 782218) B94 6JH
Magazine Editor Mrs A Burley
(until June 2023)
Mr D Bush parishmagnews@ho
(from July 2023) 01564 775854

parishmagnews@hotmail.com 01564 775854

1

St Mary's PCC Legal and administrative information

Magazine Mrs A Burley Advertisements (until June 2023) Mrs V Davies vdavies1@hotmail.co.uk (from July 2023) Bellringers' Captain Mr J Cranmer Jubilee Cottages Old Warwick Road Lapworth (Tel: 01564 782425) B94 6AZ Organist and Mr R Binnie Dip. Mus. Ed. R.S.A.M. 17 Warmington Grove Choirmaster Warwick (Tel: 01926 408778) CV34 5RZ Independent examiner Dr J R Ayling BSc FCA 8 Troutbeck Avenue Leamington Spa CV32 6NE Principal Office The Rectory Church Lane Lapworth B94 5NX Bankers HSBC Bank Plc Lloyds Bank Plc PO Box 68 PO Box 1000 130 New Street Andover Birmingham, B2 4JU BX1 1LT CCLA Investment Management Limited Virgin Money The CBF Church of England Funds Jubilee House Senator House, 85 Queen Victoria Street Gosforth, Newcastle upon Tyne London, EC4V 4ET NE3 4PL Nationwide Building Society Nationwide House Pipers Way Swindon, SN38 1NW

2

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

The Parochial Church Council presents its report and financial statements for the year ending 31 December 2023.

AIMS AND PURPOSES

The Parochial Church Council of the Ecclesiastical Parish of St Mary the Virgin, Lapworth (PCC) has the responsibility of cooperating with the incumbent, the Revd P H Gerard, in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church of Saint Mary the Virgin Lapworth (St Mary's).

OBJECTIVES AND ACTIVITIES

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Mary's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:

To facilitate this work, it is important that we maintain the fabric of the Church of St Mary's Lapworth.

ACHIEVEMENTS AND PERFORMANCE

Congregation

Compared to before the Covid pandemic, congregation numbers continue to be lower. In particular the church’s relationship with young families remains weaker.

The pattern of services is now typically one Sunday service at 11am, a midweek morning eucharist at 10am on Wednesday, with the Rector saying Morning and Evening Prayer at 8:30am and 5pm respectively Monday to Thursday. There is also an informal service on some second Sundays of the month at 9:30am and a Toddler Praise service on the last Friday of most months.

Coronation of King Charles III

On the 7th May special services were held for the coronation of King Charles III. A book of condolence following the death of the Queen was sent to the Warwick Records office. This was sent back to us and so is now stored with the PCC minutes.

Recording of services

A recorded service was made available for nearly every Sunday throughout 2023. This has usually been the 11am choral service. The viewing numbers for recorded services on YouTube have been between 20 and 80.

Music and Choir

Over the past year the choir has continued to develop its contribution to the worship of the church. It has learned a considerable number of new anthems, notably John Ireland’s Greater Love Hath No Man which, along with four trumpets and organ, was sung on Remembrance Sunday. On special occasions we have welcomed singers from Packwood and Tanworth in Arden. Some of the choir have taken part in the monthly Choral Evensong service held at Tanworth.

One new member, Elizabeth Claydon, joined the choir’s sopranos. It is hoped that Elizabeth will also be able to contribute at the organ console.

The Junior Choir, though small in number, continues to thrive and make a major contribution to our musical life. In addition to having their own Friday night rehearsal prior to joining in with the seniors, on Sunday mornings the juniors work their way through the Royal School of Church Music’s Voice for Life course.

In September the Organ Scholar, Francis Fowler, left to take up the position of Organ Scholar at Sidney Sussex College, Cambridge. It was great that Francis returned to play for our Nine Lessons and Carols service in December.

3

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

ACHIEVEMENTS AND PERFORMANCE (continued)

Church Organ

In 2022 it was clear that the leatherwork on the church organ was nearing the end of its life. The PCC has considered several options, including repair, a full rebuild and replacing the pipe organ with a digital organ. The PCC engaged Andrew Moyes, former MD of Nicholson’s in Worcester, in March 2023 to look at a pre-tender project, covering both a full rebuild and replacement with a digital organ. By the end of December 2023, the PCC had received quotes for a basic repair, a full rebuild and replacement with a digital organ.

January 2024 saw prolonged PCC discussions into the two tenders submitted for a full rebuild and if a full rebuild was the appropriate course of action. These discussions resulted in a majority decision by the PCC to pursue a full rebuild carried out by the Bishops of London. A resolution was passed to seek a faculty for the organ rebuild according to the Bishops’ specification.

During 2023 several fund-raising events for the organ took place including a successful flower festival and a concert in church by the Warwickshire Singers. In addition, the PCC received a substantial donation for work on the organ. These together mean that by 31 December 2023 the PCC had received £105,010 for work on the organ.

Church Bells

We continue to enjoy the church bells being rung before our main services by our bell ringers ably led by John Cranmer. We would also like to thank John and his team for installing our new set of bell ropes.

Outreach to families

Each month we have an 11am Family Service (first Sunday of the month). For most months, a together@9.30am service is held on the second Sunday and a Baby and Toddler Praise service on the last Friday of the month, all aimed primarily at young families. These services were offered consistently through 2023.

The Rector has consistently taken Monday morning assemblies at Lapworth CofE Primary School. The school held two end of term services in church. A fallen tree prevented the school’s Christmas service in church taking place. The PCC pays for the coaches that bring children to and from the school for the end of term services in church.

Occasional Offices (Baptisms, Weddings and Funerals)

During 2023 we had a total of 6 infant baptisms (2022:11), 4 weddings (2022: 4) and 4 funerals in church (2022: 10). One further church funeral was conducted at the crematorium (2022: 2).

Electoral Roll

The electoral roll stands at 112 people, about half of whom live outside the parish.

Flower Guild

The Flower Guild, led by Margaret Bradnock and her team of eleven committed talented ladies, continued to beautifully decorate the church throughout the year. In addition to decorating the Church for four weddings, special arrangements were designed for Easter, the Remembrance day service, Harvest and Christmas. All were much admired and appreciated by both the congregation and visitors.

Social Events

Well attended parish lunches were held on 15 January 2023, 12 March 2023 (Lenten lunch), 03 September 2023 and 12 November 2023 (Remembrance Day). A raffle was held at two of the lunches with the proceeds going to the Church Organ Fund. Proceeds from the Lenten lunch were donated to a local Ukraine appeal. In addition, a Coronation parish lunch (with Prosecco) took place on 07 May 2023 to celebrate King Charles III’s ascension to the throne. Our thanks were conveyed to Di Williams and her team for organising and serving excellent food.

On 13/14 May 2023 a wonderful and very successful flower festival took place with the theme of ‘A Year in the Church Calendar’. The floral arrangements were organised by Margaret Bradnock and the Flower Guild and thanks were conveyed to everyone involved in decorating the church so beautifully and also to all those involved with the various stalls and refreshments organised in the Old School during the two-day festival.

4

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

ACHIEVEMENTS AND PERFORMANCE (continued)

Social Events (continued)

On 18 May 2023 an Ascension Day service was held at St Mary’s with the cluster churches. This was followed by wine and nibbles after the service which provided an excellent opportunity for members of the cluster churches to socialise.

Lorraine Tobin and her team organised a successful Harvest Supper in the Old School on 07 October 2023 and all proceeds were donated to the Church Organ Fund.

Refreshments were served in church after the family service on the first Sunday of the month and also prior to each parish lunch. Refreshments were also served in the Old School after the Mothering Sunday service, Hot Cross bun family service on Good Friday, and the Easter Day service. Mulled wine and mince pies were served in the Old School after the Carol Service.

The annual Christmas Fayre was held in the Village Hall on 25 November 2023. The fayre was very well attended and the £1,755 proceeds from the fayre were a record for the event. Thanks were due to Sally and Mike Parkes, who organised the event, and the many stallholders and all those who contributed to such a successful event.

The PCC

The PCC now has fifteen members with four new members being recruited at the APCM in April. The PCC welcomed Miss Ellie Pinnells, Mrs Deena Waldron, Mrs Sandra Barnfield and Mr Joel Whitehouse to the committee. The PCC met six times in 2023.

Transforming Church Action Planning (TCAP)

The parish TCAP process started with a meeting at the Old School on 14th May 2022. The process seeks to identify priorities for the church’s mission over the next few years, and then the related goals and actions. A follow up meeting was held on 17th September 2022. With no progress in 2023 a joint meeting with Packwood PCC in February 2024 facilitated by the Dioscean facilitators took place to reactivate the process for both PCCs.

Developing Ministry

In January 2023 the PCC passed a resolution for the support of Michele Twelftree to be put forward for Reader Training. The plan is for her Reader ministry to be focused around Baptism families, the together@9.30 service and Baby and Toddler Praise. This resolution was accepted in May 2023 and her training commenced in October 2023.

With Packwood services to cover (see below) the Rector is grateful to Clare Kimpton, Reader, and the Revd Anne Hinks (retired) who are taking more services across the benefice and at Packwood.

The Revd Marc Catley, Vicar of Nuthurst and Packwood, suffered a stroke at the end of May 2022 and retired formally in July 2023. The Rector has been gradually taking over services in Packwood.

People and Places

The Diocesan People and Places programme formalised an “Oversight Area” encompassing Baddesley Clinton Lapworth and Packwood from the start of 2023.

On 1st February 2023 there was a joint meeting of the PCCs of Lapworth, Baddesley Clinton and Packwood with the Area Dean, the Revd Phelim O’Hare. The meeting was mainly about getting to know each other and sharing hopes and fears.

The Oversight Area Formation Day was held on Saturday 2nd December 2023 at the Diocesan office in Birmingham. It was a great privilege to have Birmingham’s Archdeacon and the Director of Ministry spending a whole day thinking about our Oversight Area in what was a potentially an extremely helpful day. The first joint PCC meeting of the Oversight Area was completed in January 2024 and saw an agreement for the name of the Oversight Area to be the “Baddesley Clinton, Lapworth and Packwood Oversight Area”. This name to recognise all three parishes and no loss of identities.

The intention is that, during 2024 the Rector will be licenced as Priest-in-Charge for Packwood. At this point the Rector will formally have oversight of St. Michael’s Baddesley Clinton, St. Mary The Virgin Lapworth and St. Giles Packwood.

5

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

ACHIEVEMENTS AND PERFORMANCE (continued)

Parish Magazine

The Parish Magazine was having a good year, despite significant rises in printing costs. The full colour editions being popular with readers and advertisers. Both advertising revenue and donations went up. Sadly, Production Editor Alison Burley was admitted to hospital in June 2023 and remained too unwell to work on the parish magazine to the end of the year. The July/August edition and subsequent September, October, November and December/January 2024 editions of the magazine were combined with the Packwood and Nuthurst edition and successfully went to print with minimal complications. From February 2024, the magazine is for the three parishes of the Oversight Area. Our thanks to both Derek Bush and Val Davies who have been recently editing the magazine, arranging advertising and to Norma Aslin who bills all the advertising.

On 29th May there was a sandwich lunch for magazine distributors at the Rectory. The circulation is now approximately 1220.

Churchyard

Churchyard working parties, complete with lunch and refreshments, were held in March and October. These were very productive. A leaf rake took place on 11th November.

Eco church

The PCC achieved Eco Church silver level accreditation in July 2023. The PCC is grateful to Mike Parkes who leads the PCC’s efforts to be more environmentally friendly.

During 2023 as part of reducing carbon dioxide emissions into the atmosphere, several light fittings were switched over to LEDs, such that most of the lights in church are now LEDs. The possibility of installing solar photovoltaic panels on the church roof to generate carbon dioxide emission free electricity was investigated. As the church is a grade 1 listed building located in a conservation area, developing an appropriate arrangement, which meets all the required permissions to install such panels has so far proved elusive.

Church Clock

The church clock remains temperamental although predominantly working in 2023.

Safeguarding

The Rector and Parish Safeguarding-Co-ordinator continue to use the Safeguarding Dashboard to monitor safeguarding across the parish. In March 2023 Sophie Mathieson was appointed as Parish Identity Checker for DBS checks. The Rector has kept the PCC informed of its position on the Safeguarding Dashboard.

Deanery Synod and Chapter

In February Emma Sargent gave a talk about FLEX youth and children's ministry.

In June Fred Rattley spoke about the work of Thrive Together Birmingham. He challenged his listeners to think about how we welcome people into our churches and provide dignity and choice.

In October there was a meeting of the newly appointed Deanery Synod after the elections in the summer. The Area Dean, Phelim O'Hare, spoke about Mission and Ministry after Covid. Attendance was approximately 80% in person and 90% including online.

In September there was an Archdeanery Explore Day held at St. Peter's, Hall Green. The introductory service was led by Bishop Ann. The aim was to encourage parishes to enter into mission and ministry. There were stalls at which Deanery Synod members were encouraged to form groups to stimulate more groups that would get together to discuss and encourage our faith.

Clerk's House

The PCC is grateful to the Lapworth Charity, which makes the Clerk's House available to the PCC for the verger’s accommodation. This is on a lease, which runs until 20th October 2041 at a peppercorn rent.

Church Building

The Church Building is subject to a quinquennial survey and report. This was carried out in February 2023. The report has highlighted several issues, in particular the building’s stonework. Estimated cost of enacting all the recommendations is significantly more than the reserves the PCC has available for such work.

6

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

FINANCIAL REVIEW

Summary

Both total income and expenditure increased in 2023. The increased income was wholly down to a restricted donation specifically for the organ. Excluding restricted income specifically for the organ, income remained virtually the same as in 2022. The increase in expenditure was around 1%.

The PCC considers it has three categories of income and expenditure. These are the day to day running of St Mary’s (“Regular Church Activities”), the maintenance of the church building’s fabric (“Fabric Maintenance”) and “Other Activities”, the income for which is mostly donations received that have specific restrictions as to how the money is used.

Regular Church Activities income was £91,893 (2022: £88,809) with expenditure of £95,912 (2022: £78,292), giving a deficit of £4,019 (2022: surplus of £10,517).

Fabric Maintenance saw a deficit of £619 (2022: deficit of £21,043) reflecting the reduced fabric maintenance in 2023. Based on the 2023 quinquennial report, future fabric maintenance expenditure is forecast to be significantly more than the funds the PCC has that can be used for such work.

Other Activities income, which includes the restricted donations specifically for the organ, was £108,133 (2022: £2,601). Expenditure was £12,738 (2022: £4,196) giving a surplus of £95,395 (2022: deficit of £1,595).

Financial statements

Total receipts to unrestricted funds were £91,893 (2022: £88,808) of which £28,135 (2022: £28,041) arose from Christian stewardship, £3,277 (2022: £4,073) was made from loose plate collections and £26,897 (2022: £25,604) was from donations and appeals. Total restricted income was £108,234 (2022: £6,930) of which £105,384 (2022: £1,656) was from donations and appeals. Included within the total reported income was Gift Aid income of £8,321 (2022: £8,463).

The PCC envisages that it will have to continue financing its activities through the existing sources of income; giving by the congregation, fees, donations from outside bodies and the income received from its financial reserves. The PCC is grateful for the ongoing support it receives from the Lapworth Charity.

Church running and maintenance costs were £28,870 (2022: £20,047).

The contribution to the Diocesan parish share of £49,015 (2022: £42,303) largely provides the stipends and housing for the clergy. The sum that the churches in the Diocese have to find is shared between the churches to a formula. For St. Mary’s this was a Common Fund Request of £38,080 and a Common Fund Gift.

Full details of the calculation to derive what the PCC believes delivers a sustainable Common Fund contribution, is set out in the Additional Information section of these financial statements. The Diocese continues to review methodologies for calculating the sum that the churches in the Diocese would be asked to find. The planned total contributions for 2025 and 2024 of £42,764 and £41,028 respectively were not amended to reflect changes in Diocesan methodologies.

The net movement on unrestricted funds was a decrease of £480 (2022: £5,588 increase).

During the year, the total fund balances increased from £262,165 to £360,937, of which £192,161 (2022: £192,641) is unrestricted.

Through donations received from the congregation and giving at the PCC's discretion, donations totalling £3,937 (2022: £3,752) were made. Of this, no (2022: two) donation was over £1,000. The PCC is grateful to Bill and Kay Baily for organising The Children's Society collection, which was through members of the congregation having collection boxes throughout the year .

The principal financial management policies of the PCC continue to be the prompt banking of offertories and other income, the timely payment of invoices and regular monitoring of the cash flow position.

7

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

FINANCIAL REVIEW (continued)

Reserves policy

For 2024, the PCC has estimated this to be equivalent to a minimum of £27,000 (2022 for 2023: £23,000). It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves at the yearend was £143,754 (2022: £142,987), which is higher than the minimum balance.

Where the balance is sufficiently higher than the minimum balance, the PCC tries to further assist the Diocese by making its full Diocesan parish share contribution in January of the particular financial year. Full payments for the 2023 and 2024 financial years were made in the Januarys of the respective years.

Free reserves exclude restricted income funds, endowment funds, and designated funds already committed for essential future spending.

The PCC received the 2023 quinquennial report, which suggests expenditure in excess of £300,000 (including an allowance to cover some professional fees and VAT, together with a contingency). The PCC therefore views its total funds of £192,161, which can be used for quinquennial expenditure, as being significantly less than required.

No minimum balance is set for any of the restricted funds, other than none of the individual funds being in deficit.

The PCC's main approach to managing risk, associated with holding reserves, is to spread the holding across a number of financial institutions, which at 31 December 2023 totalled five (2023: five).

VOLUNTEERS

We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. We would like to thank our churchwardens, Mrs Kenny and Mr Parkes who have worked so tirelessly on our behalf. Thanks are also due to Mrs Aslin, Mrs Baines and Mr Jackson who work hard as our Electoral Roll Officer & Envelope Scheme Secretary, PCC Secretary and Treasurer respectively.

8

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council (Powers) Measure 1956 and is a registered charity.

The method of appointment of PCC members is set out in the Synodical Government Measure 1969 Schedule III - Church Representation Rules, as amended. At St Mary's the membership of the PCC consists of the incumbent (our rector), churchwardens, the deanery synod representatives and members elected by those members of the congregation who are on the electoral role of the church. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC.

The full PCC met six times during the year.

Lapworth PCC has two related trusts, which are:

l Lapworth Old School Trust (Registered No. 1068925)

In March 1997 the PCC made a donation to S W Willson and A H Kimpton, promoters for a new trust to be formed and known as the Old School Trust. The conveyance of the Old School House was completed in March 1997 to the names of the Trustees of the Old School Trust. In March 1998 the full approval of the Charity Commissioners was given and the name Lapworth Old School Trust was entered in the central register of charities.

The charitable objects of this trust are for the benefit of St Mary’s Church, Lapworth and the community without distinction of political, religious or other opinion including use for meetings, lectures and classes and for other forms of recreation and leisure time occupations with the object of improving the conditions of life for the said community. Members of the Lapworth Parochial Church Council who are also Trustees of the Old School Trust are Mrs K Baines, Revd P H Gerard, Mr A I Jackson, Mr M E T Parkes, Mrs E M Kenny and Mr H O Roberts.

On the 31st December 1998 the PCC donated funds of £75,411 to the above Trust. The objects of the Trust are for the benefit of St. Mary’s Church, Lapworth, Warwickshire and the community. Members of the Lapworth Parochial Church Council who are also Trustees of the Willson Memorial Trust are Mrs K Baines, Revd P H Gerard, Mr A I Jackson, Mr M E T Parkes and Mrs E M Kenny.

On the 6th September 1999 the objects of the Trust were amended to read “The furtherance of the religious and other charitable purposes of the Church of England in the Parish of Lapworth”. Since 2004 all income received by the Trust has been given to the PCC.

The PCC holds cash and investments, as custodian Trustee, on behalf of the Lapworth Old School Trust (LOST) and the Willson Memorial Trust (WMT). The procedures employed by the PCC to safeguard its own assets are extended to those funds belonging to the LOST and the WMT. Separate accounting records are maintained for each of these Trusts which may be used to indicate, when required, the amount of funds in the PCC's bank accounts which belong to the LOST and the WMT respectively. Details of the amounts held at the yearend for each of these funds are given in note 10 of the financial statements.

9

St Mary's PCC Report of the Parochial Church Council for the year ended 31 December 2023

ADMINISTRATIVE INFORMATION

Saint Mary The Virgin Lapworth (St. Mary’s) is the Church of England church serving the local communities in and around the village of Lapworth, Warwickshire. It is part of the Diocese of Birmingham within the Church of England. The correspondence address is The Rectory, Church Lane, Lapworth, Solihull, B94 5NX. Registered charity number 1165322.

PCC members who have served from 1 January 2023 until the date this report was approved are:

Ex Officio members:

Revd P H Gerard Rector and Deanery Synod Representative Mr M E T Parkes Churchwarden and PCC Vice Chair Mrs E M Kenny Churchwarden Elected members: Mrs N Aslin Electoral Roll Officer Mrs K Baines Secretary Mrs J S Barnfield (appointed April 2023) Mrs R C Bird (resigned April 2023) Mr L A Carver Mr A I Jackson Treasurer Mr I T Knowles Deanery Synod Representative Miss E Pinnells (appointed April 2023) Mr H O Roberts Deanery Synod Representative Mrs J Tookey Mrs M Twelftree Deanery Synod Representative Mrs D Waldron Deanery Synod Representative (appointed April 2023) Mr J Whitehouse (appointed April 2023)

Approved by the PCC and signed on their behalf by:

The Revd P H Gerard

Date

10

Independent examiner's report To the Trustees of St Mary's PCC

I report on the accounts of the church for the year ended 31 December 2023 which are set out on pages 12 to 21.

Respective Responsibilities of Trustees and Examiner

The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Dr J R Ayling BSc FCA Fellow of the ICAEW 8 Troutbeck Avenue Leamington Spa CV32 6NE

26 March 2024

Date

11

St Mary's PCC Statement of Financial Activities for the year ended 31 December 2023

Notes
INCOME AND ENDOWMENTS
3a
3b
3c
3d
3e
Total income
EXPENDITURE
4a
4b
Total expenditure
Net gains / (losses) on investments
8, 11
Gross transfers between funds
11
Net movement in funds
Balance at 1 January
11
Balance at 31 December
11
Voluntary income
Activities for generating funds
Income from investments
Church activities
Church activities
Raising funds
Other
Net income / (expenditure) before investment
gains / (losses)		 Unrestricted
Funds
£
67,503
11,269
4,575
8,546
-
91,893
95,239
1,392
96,631
(4,738)
4,208
50
(480)
192,641
192,161		 Restricted
Funds
£
105,384
-
2,850
-
-
108,234
12,739
-
12,739
95,495
3,807
(50)
99,252
69,524
168,776		 Total
Total
2023
2022
£
£
172,887
67,837
11,269
9,859
7,425
3,380
8,546
10,362
-
4,300
200,127
95,738
107,978
106,292
1,392
1,567
109,370
107,859
90,757
(12,121)
8,015
(11,158)
-
-
98,772
(23,279)
262,165
285,444
360,937
262,165

There are no gains or losses for this or the prior year other than those disclosed in the Statement of Financial Activities. All income and expenditure arises from continuing activities.

12

St Mary's PCC Balance Sheet as at 31 December 2023

Notes
Fixed assets
Fixed asset investments
8
Current assets
Debtors
9
Cash at bank and in hand
10
Net current assets
Funds
11
Restricted
Unrestricted
Total charity funds
Total assets less current liabilities
being total net assets
Creditors: amounts falling due within
one year		 31 December 2023
31 December 2022
£
£
£
£
163,344
149,164
11,132
10,798
462,764
374,628
473,896
385,426
(276,303)
(272,425)
197,593
113,001
360,937
262,165
168,776
69,524
192,161
192,641
360,937
262,165
473,896
(276,303)

Approved by St Mary's PCC and signed on their behalf by:

Revd P H Gerard

Date

13

St Mary's PCC Cash flow statement for the year ended 31 December 2023

Year ended 31 Year ended 31
December 2023 December 2022
Notes £ £
Cashflows from operating activities
Net income / (expenditure) before investment gains / (losses) 90,757 (12,121)
Adjustments for:
Dividends, interest and income from investments 3c (7,425) (3,380)
Investment (gain) / loss allocated to WMT & LOST 8 (6,165) 12,600
Increase in debtors 9 (334) (970)
Increase / (decrease) in creditors 10 3,878 (10,816)
Net cash provided by / (used in) operating activities 80,711 (14,687)
Cash flows from investing activities
Dividends, interest and income from investments 3c 7,425 3,380
Net cash provided by investing activities 7,425 3,380
Change in cash and cash equivalents in the year 88,136 (11,307)
Cash and cash equivalents brought forward 374,628 385,935
Cash and cash equivalents carried forward 462,764 374,628
Analysis of cash and cash equivalents
Cash in hand 462,764 374,628
Analysis of changes in net debt and cash balances At start of
year Cash flows At end of year
£ £ £
Cash 374,628 88,136 462,764

14

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

1 Accounting policies

The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations' "true and fair view" provisions, together with FRS102 (2019) as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)). The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at fair value.

{a} Recognition of income and endowments

Income and endowments are recognised when the PCC becomes legally entitled to the use of the resources; and the inflow of economic benefit is probable; and the monetary value can be measured with sufficient reliability.

Grants and donations are included in the SOFA when any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received.

Gift aid and other tax claims are included in the SOFA at the same time as the cash donations to which they relate.

Investment income is included in the accounts when receivable.

Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised.

{b} Recognition of expenditure and liabilities

Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.

Governance costs include the costs of preparation and examination of the statutory accounts, the cost of PCC meetings and the cost of any legal advice to the PCC on governance or constitutional matters.

{c} Assets

In so far as consecrated and beneficed property of any kind is excluded from the statutory definition of "charity" by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.

Investments quoted on a recognised stock exchange, or whose value derives from them, are valued at market value at the yearend.

Amounts owing to the PCC at 31 December are shown as debtors less provision for amounts that may prove un-collectable.

{d} Funds

Restricted funds are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

Unrestricted funds represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for spending on a future project.

2 Going concern

There are no material uncertainties as to the PCC's ability to continue as a going concern.

15

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

3
Income and endowments
Unrestricted
Funds
3a
Voluntary income
£
Planned giving
Christian stewardship
28,135
35,307
Collections
Loose plate collections
3,277
4,090
Donations and appeals
Lapworth Charity
20,000
Willson Memorial Trust
2,709
Flower fund
2,822
Organ restoration
-
Other donations
1,366
26,897
Legacies
1,209
67,503
3b
Activities for generating funds
Parish magazine advertising
6,901
Christmas fair
1,700
Other fundraising activities
2,668
11,269
3c
Income from investments
Bank interest
2,899
Dividends received
1,676
4,575
3d
Church activities
Fees for weddings and funerals
4,993
Parish magazine sales
3,553
8,546
3e
Other
VAT refund on stonework repairs
-
Total income and endowments
91,893
Tax recoverable on planned
giving
813
-
Tax recoverable on donations
and appeals
7,172
Tax recoverable on collections		 Restricted
Funds
£
-
-
-
-
-
-
-
102,401
2,647
105,384
-
105,384
-
-
-
-
1,807
1,043
2,850
-
-
-
-
108,234
-
336
-		 Total
2023
£
28,135
35,307
3,277
4,090
20,000
2,709
2,822
102,401
4,013
132,281
1,209
172,887
6,901
1,700
2,668
11,269
4,706
2,719
7,425
4,993
3,553
8,546
-
200,127
7,172
813
336		 Total
2022
£
28,041
7,222
35,263
4,073
1,241
5,314
20,000
1,598
1,200
-
4,462
-
27,260
-
67,837
8,085
1,605
169
9,859
1,136
2,244
3,380
7,548
2,814
10,362
4,300
95,738

16

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

4
Expenditure
Unrestricted
Funds
£
Missionary and charitable giving
1,794
Ministry: Diocesan parish care
Common fund request
38,080
Common fund gift
10,935
Other ministry costs
Clergy expenses
311
Clergy housing
733
Other direct church costs
903
Church running & maintenance
General repairs
9,183
Church running costs
9,306
Organists and choir
5,996
Flower fund expenses
2,604
Major repairs
Stonework repairs
719
Organ restoration
-
Parish magazine costs
10,060
Churchyard upkeep
2,597
Cost of independent examination
2,015
Sundry expenses
3
95,239
4b
Christmas fair expenses
100
Church function costs
-
Other
1,292
1,392
96,631
4a Church activities
Raising funds
Total resources expended		 Restricted
Funds
£
-
-
-
955
-
199
1,681
-
100
-
-
6,937
-
2,867
-
-
12,739
-
-
-
-
12,739		 Total
2023
£
1,794
38,080
10,935
1,266
733
1,102
10,864
9,306
6,096
2,604
719
6,937
10,060
5,464
2,015
3
107,978
100
-
1,292
1,392
109,370		 Total
2022
£
2,133
31,368
10,935
700
682
1,366
6,772
6,614
4,694
1,967
25,371
-
8,717
3,151
1,822
-
106,292
153
27
1,387
1,567
107,859

5 Support costs

All support costs have been allocated to expenditure on church activities. As the sole charitable activity of the PCC is the promotion in the parish of the whole mission of the church, no further apportionment of support costs has been undertaken. The support costs have been allocated between the restricted and unrestricted funds as follows:

d unrestricted funds as follows:
Unrestricted
Funds
£
Clergy expenses
311
Clergy housing
733
Governance costs
2,015
3,059
Other ministry costs		 Restricted
Funds
£
955
-
-
955		 Total
2023
£
1,266
733
2,015
4,014		 Total
2022
£
700
682
1,822
3,204

Governance costs comprise the charge for the independent examination of the financial statements. No other remuneration was payable to the independent examiner in the year to 31 December 2023 (2022: £nil).

6 Staff

During the year the PCC had no employees (2022: none).

17

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

7 Trustees and related parties

Revd P H Gerard (Rector) received expenses of £1,082 (2022: £219) in respect of mileage charges, travel costs and other miscellaneous expenditure. £178 (2022: £259) was outstanding to him at the yearend in respect of these costs. Mrs M Twelftree, in carrying out the duties of Verger, has the use of the Clerk’s House and receives payments from third parties. With the exception of Revd P H Gerard and Mrs M Twelftree, none of the members of the PCC, nor any person connected with them, received any remuneration or expenses in the year to 31 December 2023 (2022: £nil).

During the year ended 31 December 2023 a donation of £200 was made by Mrs N Aslin (Trustee) for the purpose of printing service sheets. (In the year ended 31 December 2022 Mrs N Aslin made a donation of £1,000 for the purposes of printing information booklets for the church.) Other gifts of £10,005 (year ended 31 December 2022: £10,449) were made by the Trustees, or their immediate family, these donations being made on the same basis as all other donors

All income earned in the year by The Willson Memorial Trust (WMT) has been donated to the Lapworth Parochial Church Council (LPCC). Amounts are shown in note 3 of these financial statements.

Lapworth Old School Trust (LOST) and WMT are each a party related to the LPCC by virtue of common Trustees. Members of the LPCC who are also Trustees of LOST and / or WMT are: Revd P H Gerard, Mr M E T Parkes, Mr H O Roberts, Mrs K Baines, Mrs E M Kenney and Mr A I Jackson.

The LPCC also acts as a custodian Trustee for LOST and WMT. Details of funds held in cash on behalf of LOST and WMT at the yearend are given in note 10 of these financial statements.

8 Fixed asset investments

Fixed asset investments Year ended
31 December 2023
£
Carrying value at beginning of year 149,164
Net gain on revaluation 14,180
Carrying value at the end of the year 163,344

The investments comprise common investment funds, of which 49% (2022: 52%) are based in the UK, and 51% (2022: 48%) overseas. The carrying value of investments at the year end is allocated between the PCC, Lapworth Old School Trust and the Willson Memorial Trust as follows:

31 December 2023 31 December 2022
£ £
St Mary's PCC 92,328 70,052
Lapworth Old School Trust 39,961 44,810
The Willson Memorial Trust 31,055 34,302
163,344 149,164

The net gain / (loss) on revaluation of investments is allocated between the PCC, Lapworth Old School Trust and the Willson Memorial Trust in accordance with each entity's share of the investments as follows:

Year ended Year ended
31 December 2023 31 December 2022
£ £
St Mary's PCC 8,015 (11,158)
Lapworth Old School Trust 3,469 (7,137)
The Willson Memorial Trust 2,696 (5,463)
14,180 (23,758)

18

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

9 Debtors 31 December 2023 31 December 2022
£ £
Prepayments and accrued income 10,345 10,798
Other debtors 787 -
11,132 10,798
10 Creditors: amounts falling due 31 December 2023 31 December 2022
within one year £ £
Funds held in capacity as custodian trustee:
Lapworth Old School Trust 155,373 152,736
The Willson Memorial Trust 118,013 115,317
273,386 268,053
Accruals and deferred income 2,917 4,372
276,303 272,425

The amounts shown above as owing to the Lapworth Old School Trust, and the Willson Memorial Trust represent the cash balances belonging to these funds which are held within its own bank accounts by the PCC in its capacity as custodian Trustee.

The movement in the funds of Lapworth Old School Trust and The Willson Memorial Trust held by the PCC are as follows:

Balance at the start of the year
Receipts
Payments
Investment gain / (loss)
Balance at the end of the year		 2023
2022
£
£
152,736
159,267
26,682
27,572
(27,514)
(26,966)
3,469
(7,137)
155,373
152,736
Lapworth Old School
Trust		 2023
2022
£
£
115,317
120,780
2,709
1,598
(2,709)
(1,598)
2,696
(5,463)
118,013
115,317
The Willson Memorial
Trust		 2023
2022
£
£
115,317
120,780
2,709
1,598
(2,709)
(1,598)
2,696
(5,463)
118,013
115,317
The Willson Memorial
Trust
115,317

19

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

11 Summary of fund movements

Unrestricted funds
General
Fabric
Flower
Junior choir
Organ restoration
Magazine
Restricted funds
Clock restoration
Car
Organ
Edith Mary Hudson
New churchyard
Junior choir
Fabric
Organ restoration
Choir stalls cushions
Service sheets		 Fund
balance
b/f
£
54,504
133,430
416
1,299
-
2,992		 £
72,588
3,264
2,835
32
2,641
10,533
Income &
endowments		 Expenditure
£
(81,948)
(910)
(2,604)
-
(1,109)
(10,060)		 Investment
gain
£
925
3,098
15
30
61
79		 Fund
transfers
£
£
3,349
49,418
(13,023)
125,859
(139)
523
(19)
1,342
10,165
11,758
(283)
3,261
50
192,161
-
5,078
-
2,598
-
1,773
(50)
2,081
-
57,888
-
439
-
51
-
98,868
-
-
-
-
(50)
168,776
-
360,937
Fund
balance
c/f
192,641 91,893 (96,631) 4,208
4,846
3,423
630
2,033
58,074
518
-
-
-
-		 119
72
1,089
50
1,390
11
51
103,573
1,680
199		 -
(955)
-
-
(2,867)
(100)
(1)
(6,937)
(1,680)
(199)		 113
58
54
48
1,291
10
1
2,232
-
-
69,524 108,234 (12,739) 3,807
262,165 200,127 (109,370) 8,015

The restricted funds are held for the following purposes:

20

St Mary's PCC Notes forming part of the financial statements for the year ended 31 December 2023

12 Analysis of net assets by fund

Fixed assets
Current assets
Current liabilities
Fund balance		 Unrestricted
Funds
£
119,423
349,041
(276,303)
192,161		 Restricted
Funds
Total
£
£
43,921
163,344
124,855
473,896
-
(276,303)
168,776
360,937

13 Controlling party and ultimate controlling party

The controlling party and ultimate controlling party of the Charity is the Board of Members of St Mary's PCC.

21

St Mary's PCC Additional information

This information does not form part of the financial statements of the Lapworth Parochial Church Council and has not been subject to an independent examiner's review.

1
Giving at the PCC's discretion:
Christian relief and development agencies
CMS
Birmingham Diocese Malawi Fund
Church Urban Fund
Additional Curates Society
Other
Lapworth School
Lapworth School Leavers
A Rocha UK
Crisis UK
Total giving at the PCC's discretion
Giving through donations from the congregation:
Christian relief and development agencies
Children's Society
Other
Royal British Legion
Ukrainefest
UNHCR
Total giving through donations from the congregation
Total Parish donations
External Giving		 Year ended
31 Dec 2022
£
£
100
150
200
100
100
150
50
100
450
500
960
1,250
159
183
125
50
100
150
1,344
1,633
1,794
2,133
864
1,037
864
1,037
377
332
902
-
-
250
1,279
582
2,143
1,619
3,937
3,752
Year ended
31 Dec 2023

22

St Mary's PCC Additional information

2 Free reserves

Free reserves (page 8) have been calculated as follows:

Total unrestricted funds (note 11)
Less unrestricted investments:
St Mary's total share of
investments (note 8)
Less St Mary's restricted
investments (note 12)		 31 Dec 2023
£
92,328
(43,921)		 31 Dec 2023
31 Dec 2022
31 Dec 2022
£
£
£
192,161
192,641
70,052
(20,398)
(48,407)
(49,654)
143,754
142,987
3
Summary of the net expenditure
Income from regular church activities
Expenditure for regular church activities
(Deficit) / surplus on regular church activities
Income for fabric maintenance
Fabric maintenance
Deficit on fabric maintenance
Income from other activities
Expenditure on other activities
Surplus / (deficit) from other activities
Net income / (expenditure) before investment gains		 Year ended
Year ended
31 Dec 2023
31 Dec 2022
£
£
91,893
88,809
(95,912)
(78,292)
(4,019)
10,517
101
4,328
(720)
(25,371)
(619)
(21,043)
108,133
2,601
(12,738)
(4,196)
95,395
(1,595)
90,757
(12,121)

23

St Mary's PCC Additional information

4 PCC calculations to derive Adjusted Unrestricted Income and Base Common Fund

Unrestricted Income
All General Fund income before investment gains and fund transfers
Less General Fund income designated for specific costs:
Contributions received towards Christmas Fair hall hire costs
Income received for heating
Contributions received towards notecards
Contributions received towards information booklet costs
Contributions received towards church function costs
PCC funerals and graveyard fees
PCC wedding fees
Grant towards new bell ropes
Magazine Fund:
Interest and dividends
Yearend surplus excluding interest and dividends
Flower Fund:
Interest and dividends
Yearend surplus excluding interest and dividends
Unrestricted organ restoration fund
Interest and dividends
Yearend surplus excluding interest and dividends
Total qualifying unrestricted funds
Base Common Fund contribution
Contribution 60% of Adjusted Unrestricted Income
2% discount for prompt payment
Adjusted Unrestricted Income
All Unrestricted Fabric Fund income before investment gains and fund
transfers
All Unrestricted Junior Choir Fund income before investment gains and
fund transfers		 Year ended
Year ended
31 Dec 2023
31 Dec 2022
£
£
91,893
88,808
Year ended
Year ended
31 Dec 2023
31 Dec 2022
£
£
72,588
74,867
(100)
(153)
-
(1,459)
(183)
-
-
(387)
-
(27)
(3,611)
(4,302)
(1,240)
(1,788)
(258)
-
79
42
394
1,182
13
11
218
-
32
-
1,500
-
72,728
69,775
2023 for
2025
2022 for
2024
£
£
43,637
41,865
(873)
(837)
42,764
41,028
3,264
1,771
32
18

24